Ohio Health and Life Insurance Exam QUESTIONS AND CORRECT DETAILED SOLUTIONS LATEST UPDATED VERSION JUST RELEASED

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Ohio Health and Life Insurance Exam QUESTIONS
AND CORRECT DETAILED SOLUTIONS LATEST
UPDATED VERSION JUST RELEASED


Question: Consider a situation where an employee, aged 66, is covered by both Medicare and

his employers group health plan. In managing a claim, how should there benefits be

coordinated to effectively utilize the coverage provided by both Medicare and the employers

plan, ensuring the most efficient payment process - ANSWER✔✔Medicare is the secondary

payer




Question: If an employer and an employee are sharing a $5,000 medical claim. The employer

covers 70% of the claim, while the employee covers the remaining 30%. Which of the following

statements is true regarding an employee's contributions to health insurance premiums. -

ANSWER✔✔The employee's contribution of $1,500 (30%) can be made with pre-tax dollars if

using an HSA or FSA




Question: The contract terminology that states a policy must have a benefit payment is -

ANSWER✔✔aleatory

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Question: What statement about Health Insurance Corporations is not true -

ANSWER✔✔Benefits are provided on a reimbursement basis




Question: Which of the following would commonly be excluded in a health policy -

ANSWER✔✔Self-Inflicted Injuries




Question: What type of policy would cover 1 of 2 business owners by paying small payments

over time, then a lump sum when they do not go back to work? - ANSWER✔✔Buy-Sell




Question: LTC policies in Ohio are required to include which feature - ANSWER✔✔Non-

forfeiture value




Question: A type of long term care that requires intermediate care is known as -

ANSWER✔✔Intermediate Care




Question: Community Rating on health plans are distinguished by Experience rating due to -

ANSWER✔✔The claims of similar and like people within the area

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Question: LTC suitability will not use which of the following - ANSWER✔✔The insureds physical

status for occupational work




Question: What is it called when an insurer only chooses to do business with higher risks

individuals - ANSWER✔✔Adverse Selection




Question: Which of the following best describes reinsurance - ANSWER✔✔Insurer transferring

risk to another insurer




Q:Which of the following best describes a mutual insurer - ANSWER✔✔The policyholders

receive a refund of overpayments in premiums




Question: The monthly benefit for an individual disability income policy is typically limited to a

percentage of the insureds income to avoid: - ANSWER✔✔Over insurance

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Question: Long term care policies will be offered by a producer with which option -

ANSWER✔✔A refund option




Question: HMO's will provide care in which scenario? - ANSWER✔✔Out-of-network

emergencies




Question: For members of a Health Insuring Corporation who are they required to se for all

non emergencies - ANSWER✔✔Primary Care Physician




Question: If Thomas works for an employer who offers an HRA who is the party that funds the

HRA - ANSWER✔✔Employer




Question: Which of these is not a valid form of risk management - ANSWER✔✔Transforming




Question: A whole new life policy has required - ANSWER✔✔Entire Contract